Credit Suisse, Switzerland's second-biggest bank, wants to rekindle its business through the much-talked-about restructuring program, but also by making acquisitions.
Size matters – at least in asset management and private banking, if a company wants to generate sustainable profitability. Which is why Credit Suisse (CS), the bank managed by Tidjane Thiam, is in the market for potential acquisitions.
«I would not exclude inorganic moves, specifically in asset management,» Iqbal Khan, the CEO of CS' International Wealth Management unit said at the Reuters Global Wealth Management Summit in Zurich yesterday.
Khan also said that the company was evaluating potential deals by making a judgement based upon the potential risks and benefits, using its established procedures. CS didn't want to grow at any cost. For the bank it was decisive whether it acquired a new capability or a share in a specific market.
